GITNUXREPORT 2025

Financial Planning Industry Statistics

Financial industry grows via tech, Millennials, ESG, and shifting client preferences.

Jannik Linder

Co-Founder of Gitnux, specialized in content and tech since 2016.

First published: April 29, 2025

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Statistic 1

About 40% of Americans have a dedicated financial advisor

Statistic 2

Approximately 60% of individuals seek financial advice when approaching retirement

Statistic 3

The most common reason for consulting a financial planner is for retirement planning, cited by 65% of clients

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About 25% of Americans do not have any retirement savings

Statistic 5

Women are 25% less likely than men to seek financial advice, according to industry studies

Statistic 6

70% of advisors plan to retire within the next 10 years, creating a potential talent gap in the industry

Statistic 7

Millennials are the fastest-growing demographic in seeking financial planning services, increasing 35% from 2018 to 2022

Statistic 8

The percentage of U.S. households with a retirement account increased from 52% in 2000 to 73% in 2019

Statistic 9

About 45% of financial planning clients are worried about inflation impacting their savings

Statistic 10

The average client-advisor relationship in financial planning lasts around 4.5 years

Statistic 11

The share of women in financial planning increased by 20% from 2018 to 2022, indicating growing gender diversity

Statistic 12

35% of clients prefer a holistic approach to financial planning, combining investment, estate, and tax planning

Statistic 13

The average age of clients consulting financial planners is 52 years old

Statistic 14

The percentage of under-40s using financial planning services increased by 18% between 2019 and 2023

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The top reason clients switch financial advisors is a lack of communication or transparency, cited by 43%

Statistic 16

Approximately 35% of Millennials have a dedicated financial plan, compared to 20% of Gen X

Statistic 17

42% of Americans aged 50+ have a formal written retirement plan

Statistic 18

Over 70% of financial planning firms consider succession planning a top priority

Statistic 19

The most common source of new client acquisition for financial planners is referral, accounting for 55%

Statistic 20

Over 65% of clients prefer personalized financial advice tailored to their specific goals

Statistic 21

Nearly 50% of financial planners report that client behavioral biases influence their advice

Statistic 22

Approximately 85% of Millennials prefer digital channels for financial advice, indicating a shift toward online platforms

Statistic 23

The number of women certified as CFP increased by 20% from 2018 to 2022, showing progress towards gender diversity

Statistic 24

Approximately 12% of U.S. households are served by financial advisors, a relatively stable figure over recent years

Statistic 25

The average age of first-time financial planning clients is 54 years old, indicating a late start trend in financial planning

Statistic 26

Approximately 70% of financial advisors believe that expanding their ESG offerings will attract younger clients

Statistic 27

50% of Millennials rely on digital tools for financial planning, with only 30% consulting live advisors regularly

Statistic 28

The propensity of high-net-worth individuals to work with multiple advisors has increased by 10% over the past five years, to manage diversified portfolios

Statistic 29

The average age of financial advisors in the U.S. is 50 years old

Statistic 30

Certified Financial Planner (CFP) professionals represent approximately 25% of financial advisors in the U.S.

Statistic 31

The average financial advisor manages approximately $110 million in client assets

Statistic 32

The median income for financial advisors in the U.S. is about $94,000 per year

Statistic 33

Over 80% of financial advisors believe that client education is critical to building trust

Statistic 34

Nearly 50% of financial advisors plan to incorporate more behavioral finance strategies into their advice

Statistic 35

Around 65% of financial advisors in the U.S. are independent practices, not affiliated with larger banks or brokerages

Statistic 36

Less than 30% of financial advisors are women, highlighting gender disparity in the industry

Statistic 37

The average assets under management per advisor is $271 million in the U.S., according to industry reports

Statistic 38

The percentage of financial advisors with specialized certifications (like CFA or CFP) increased by 15% from 2018 to 2022

Statistic 39

The average number of clients per financial advisor is around 250, with high-net-worth advisors tending to serve fewer clients for better service

Statistic 40

The average financial advisor’s client retention rate is about 85%, with firms focusing on long-term relationships

Statistic 41

The global financial planning market was valued at approximately $3.1 trillion in 2022

Statistic 42

Robo-advisors manage over $1.5 trillion in assets globally as of 2023

Statistic 43

The U.S. financial planning industry is projected to grow at a CAGR of 4.8% from 2023 to 2030

Statistic 44

Financial planning firms with less than 10 employees comprise about 70% of the industry

Statistic 45

85% of financial advisors report increased demand for comprehensive wealth management services

Statistic 46

The median annual fee for financial planning services in the U.S. is approximately $2,500

Statistic 47

The use of artificial intelligence in financial planning is projected to grow at a CAGR of 23% through 2027

Statistic 48

The global financial planning software market is expected to reach $2.4 billion by 2027, growing at a CAGR of 8.3%

Statistic 49

Financial planning firms that adopt ESG (Environmental, Social, and Governance) criteria are experiencing a 15% faster growth rate

Statistic 50

The number of Certified Financial Planner professionals increased by 12% globally between 2018 and 2022

Statistic 51

The global financial planning software market is expected to reach $2.5 billion by 2028, growing at a CAGR of 9%

Statistic 52

The number of financial technology startups focusing on financial planning grew by 45% from 2018 to 2022

Statistic 53

The average financial planner’s client assets increased by 10% year-over-year in 2023

Statistic 54

The share of online-only financial planning services increased by 50% between 2020 and 2023

Statistic 55

The average annual growth rate of assets in sustainable investment funds (ESG funds) was 14% from 2018 to 2023

Statistic 56

About 55% of U.S. households with financial advisors plan to increase their advisory spending in the next 12 months

Statistic 57

The global financial planning industry is projected to grow by 5.4% annually through 2025

Statistic 58

45% of financial planning clients are concerned about tax implications of their investments

Statistic 59

The percentage of financial advisors offering estate planning services increased by 20% from 2018 to 2022

Statistic 60

65% of U.S. financial advisors are planning to expand their team in the next two years to meet growing demands

Statistic 61

The global ESG investment market reached an estimated $35 trillion in assets under management in 2023

Statistic 62

The number of registered investment advisory firms in the U.S. increased by 18% from 2018 to 2022, reflecting industry growth

Statistic 63

The global financial advisory market is expected to reach $4.2 trillion in revenue by 2025, growing at a CAGR of 7.1%

Statistic 64

The compliance costs for financial planning firms increased by approximately 12% annually from 2018 to 2022, due to regulatory requirements

Statistic 65

The adoption rate of financial planning apps increased by 30% in 2022

Statistic 66

Nearly 55% of financial advisors use social media platforms for client engagement and marketing

Statistic 67

Digital financial planning tools reduced the average planning time by 25% in 2022

Statistic 68

78% of financial advisors believe that integrating technology enhances client experience

Statistic 69

The industry’s adoption of cloud-based financial planning software grew by 40% in 2022

Statistic 70

40% of financial advisors leverage big data analytics to enhance client advice

Statistic 71

Digital onboarding processes reduced client onboarding time by an average of 35% in 2022, improving efficiency

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Key Highlights

The global financial planning market was valued at approximately $3.1 trillion in 2022
About 40% of Americans have a dedicated financial advisor
The average age of financial advisors in the U.S. is 50 years old
Robo-advisors manage over $1.5 trillion in assets globally as of 2023
Approximately 60% of individuals seek financial advice when approaching retirement
The U.S. financial planning industry is projected to grow at a CAGR of 4.8% from 2023 to 2030
Financial planning firms with less than 10 employees comprise about 70% of the industry
The most common reason for consulting a financial planner is for retirement planning, cited by 65% of clients
85% of financial advisors report increased demand for comprehensive wealth management services
The median annual fee for financial planning services in the U.S. is approximately $2,500
About 25% of Americans do not have any retirement savings
The adoption rate of financial planning apps increased by 30% in 2022
Women are 25% less likely than men to seek financial advice, according to industry studies

The financial planning industry is experiencing a remarkable transformation, with its market valued at over $3 trillion globally in 2022 and rapidly evolving through digital innovation, demographic shifts, and increasing demand for personalized advice.

Demographics and User Behavior

About 40% of Americans have a dedicated financial advisor
Approximately 60% of individuals seek financial advice when approaching retirement
The most common reason for consulting a financial planner is for retirement planning, cited by 65% of clients
About 25% of Americans do not have any retirement savings
Women are 25% less likely than men to seek financial advice, according to industry studies
70% of advisors plan to retire within the next 10 years, creating a potential talent gap in the industry
Millennials are the fastest-growing demographic in seeking financial planning services, increasing 35% from 2018 to 2022
The percentage of U.S. households with a retirement account increased from 52% in 2000 to 73% in 2019
About 45% of financial planning clients are worried about inflation impacting their savings
The average client-advisor relationship in financial planning lasts around 4.5 years
The share of women in financial planning increased by 20% from 2018 to 2022, indicating growing gender diversity
35% of clients prefer a holistic approach to financial planning, combining investment, estate, and tax planning
The average age of clients consulting financial planners is 52 years old
The percentage of under-40s using financial planning services increased by 18% between 2019 and 2023
The top reason clients switch financial advisors is a lack of communication or transparency, cited by 43%
Approximately 35% of Millennials have a dedicated financial plan, compared to 20% of Gen X
42% of Americans aged 50+ have a formal written retirement plan
Over 70% of financial planning firms consider succession planning a top priority
The most common source of new client acquisition for financial planners is referral, accounting for 55%
Over 65% of clients prefer personalized financial advice tailored to their specific goals
Nearly 50% of financial planners report that client behavioral biases influence their advice
Approximately 85% of Millennials prefer digital channels for financial advice, indicating a shift toward online platforms
The number of women certified as CFP increased by 20% from 2018 to 2022, showing progress towards gender diversity
Approximately 12% of U.S. households are served by financial advisors, a relatively stable figure over recent years
The average age of first-time financial planning clients is 54 years old, indicating a late start trend in financial planning
Approximately 70% of financial advisors believe that expanding their ESG offerings will attract younger clients
50% of Millennials rely on digital tools for financial planning, with only 30% consulting live advisors regularly
The propensity of high-net-worth individuals to work with multiple advisors has increased by 10% over the past five years, to manage diversified portfolios

Demographics and User Behavior Interpretation

Despite a steadily growing embrace of financial planning—especially among millennials—more than a quarter of Americans still lack retirement savings and, with nearly 70% of advisors nearing retirement themselves, the industry faces a critical generational and talent gap that demands personalized, transparent, and digitally savvy solutions.

Financial Advisor Characteristics

The average age of financial advisors in the U.S. is 50 years old
Certified Financial Planner (CFP) professionals represent approximately 25% of financial advisors in the U.S.
The average financial advisor manages approximately $110 million in client assets
The median income for financial advisors in the U.S. is about $94,000 per year
Over 80% of financial advisors believe that client education is critical to building trust
Nearly 50% of financial advisors plan to incorporate more behavioral finance strategies into their advice
Around 65% of financial advisors in the U.S. are independent practices, not affiliated with larger banks or brokerages
Less than 30% of financial advisors are women, highlighting gender disparity in the industry
The average assets under management per advisor is $271 million in the U.S., according to industry reports
The percentage of financial advisors with specialized certifications (like CFA or CFP) increased by 15% from 2018 to 2022
The average number of clients per financial advisor is around 250, with high-net-worth advisors tending to serve fewer clients for better service
The average financial advisor’s client retention rate is about 85%, with firms focusing on long-term relationships

Financial Advisor Characteristics Interpretation

With a median annual income of $94,000, an average client base of 250, and a steadfast focus on trust and behavioral insights, today’s U.S. financial advisors—typically over 50 and predominantly male—are navigating a landscape defined by specialization, independence, and a growing emphasis on client education to secure long-term wealth and industry relevance.

Market Size and Growth

The global financial planning market was valued at approximately $3.1 trillion in 2022
Robo-advisors manage over $1.5 trillion in assets globally as of 2023
The U.S. financial planning industry is projected to grow at a CAGR of 4.8% from 2023 to 2030
Financial planning firms with less than 10 employees comprise about 70% of the industry
85% of financial advisors report increased demand for comprehensive wealth management services
The median annual fee for financial planning services in the U.S. is approximately $2,500
The use of artificial intelligence in financial planning is projected to grow at a CAGR of 23% through 2027
The global financial planning software market is expected to reach $2.4 billion by 2027, growing at a CAGR of 8.3%
Financial planning firms that adopt ESG (Environmental, Social, and Governance) criteria are experiencing a 15% faster growth rate
The number of Certified Financial Planner professionals increased by 12% globally between 2018 and 2022
The global financial planning software market is expected to reach $2.5 billion by 2028, growing at a CAGR of 9%
The number of financial technology startups focusing on financial planning grew by 45% from 2018 to 2022
The average financial planner’s client assets increased by 10% year-over-year in 2023
The share of online-only financial planning services increased by 50% between 2020 and 2023
The average annual growth rate of assets in sustainable investment funds (ESG funds) was 14% from 2018 to 2023
About 55% of U.S. households with financial advisors plan to increase their advisory spending in the next 12 months
The global financial planning industry is projected to grow by 5.4% annually through 2025
45% of financial planning clients are concerned about tax implications of their investments
The percentage of financial advisors offering estate planning services increased by 20% from 2018 to 2022
65% of U.S. financial advisors are planning to expand their team in the next two years to meet growing demands
The global ESG investment market reached an estimated $35 trillion in assets under management in 2023
The number of registered investment advisory firms in the U.S. increased by 18% from 2018 to 2022, reflecting industry growth
The global financial advisory market is expected to reach $4.2 trillion in revenue by 2025, growing at a CAGR of 7.1%

Market Size and Growth Interpretation

As the global financial planning industry surges past $3 trillion with robo-advisors managing over half a trillion, AI accelerating at 23% CAGR and ESG funds swelling to $35 trillion, it’s clear that both cutting-edge technology and values-driven investing are not just trends—they're shaping the future of smarter, more responsible wealth management.

Regulatory and Compliance Aspects

The compliance costs for financial planning firms increased by approximately 12% annually from 2018 to 2022, due to regulatory requirements

Regulatory and Compliance Aspects Interpretation

As compliance costs for financial planning firms climbed roughly 12% annually from 2018 to 2022, the industry faces the paradox of spending more to serve clients while navigating an increasingly complex regulatory maze.

Technological Adoption and Digital Tools

The adoption rate of financial planning apps increased by 30% in 2022
Nearly 55% of financial advisors use social media platforms for client engagement and marketing
Digital financial planning tools reduced the average planning time by 25% in 2022
78% of financial advisors believe that integrating technology enhances client experience
The industry’s adoption of cloud-based financial planning software grew by 40% in 2022
40% of financial advisors leverage big data analytics to enhance client advice
Digital onboarding processes reduced client onboarding time by an average of 35% in 2022, improving efficiency

Technological Adoption and Digital Tools Interpretation

As financial advisors swiftly embrace innovative digital tools—from apps and social media to big data analytics—it's clear that technology's rapid integration in 2022 is fundamentally transforming planning efficiency, client engagement, and overall industry standards—proof that in finance, going digital isn't just smart, it's essential.